Crude oil collapses on growing demand fears
WTI oil extends steep fall into second day, being down 4.5% so far today, after 4.1% drop on Wednesday.
Today’s bearish extension broke below key support at $36.11 (08 Sep low) and hit new 4 ½-month low at 35.35.
Fresh weakness was…
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The Euro remains under pressure and could fall further on dovish ECB
The Euro remains at the back foot on Thursday, holding in red for the fourth straight day, after Wednesday’s action was rejected above pivotal Fibo support at 1.1714 (61.8% of 1.1612/1.1880) and subsequent bounce and narrow consolidation…
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ECB open to further stimulus as recession fears grow
The governing council of the European Central Bank is widely expected to keep policy unchanged during their meeting today, as well as set the stage for further easing in December as fears grow over a new recession.
The recent surge…
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Turkish lira hits record lows against the dollar and the Euro
The Turkish lira hit a new all-time low against the dollar and the Euro on Tuesday, falling to below 8.1 versus the greenback and below 9.6 versus the single currency.
With ongoing geopolitical issues and an economy devastated by the…
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Wall Street drops amid political uncertainty and surge in Coronavirus
Wall Street shares fell sharply on Monday amid mounting worry over a strong rise in COVID-19 cases, as well as fading chances of a new US stimulus package.
Threats of a further slowdown in the US’s economic recovery hurt risk…
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German business climate weakens over virus fears
A sharp rise in COVID-19 cases has increased concerns over economic recovery in Germany, with business morale falling in October after six months of steady progress.
According to data released today by the Munich-based Ifo Institute,…
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Fresh risk aversion and potential bull-trap increase risk of deeper fall
The Euro drops on Monday, deflated by fresh risk aversion on record number in Covid-19 cases across the Europe.
Growing fears of further slowdown in economic recovery as surge in the number of new infections triggers stricter measures and…
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Oil drops over 2% on growing demand concerns
WTI oil opened with gap lower and fell over 2% during Asian / early European session on Monday, hit by fresh wave of risk aversion.
Oil extends last week’s losses which resulted in weekly close below psychological $40 level and formation…
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